Taxation

SALT Act

United States · United States Congress · 1 March 2023

Supporting Americans with Lower Taxes Act or the SALT Act This bill modifies the cap on state and local tax deductions (the SALT deduction) and provides for Medicare coverage of hearing and vision services. Current law caps the SALT deduction at $10,000 for single taxpayers and married couples filing jointly and $5,000 for married taxpayers filing separately; the cap applies to tax years 2018 through 2025. The bill permanently (1) eliminates any cap for single taxpayers or married couples filing jointly who make less than $400,000 a year ($200,000 for married taxpayers filing separately); (2) increases the cap to $60,000 for single taxpayers or married couples filing jointly who make $400,000 or more a year ($30,000 for married taxpayers filing separately who make $200,000 or more a year); and (3) phases down the cap for filers who make more than $400,000 in a manner such that those who make $1 million or more do not qualify for the deduction. The bill also provides for Medicare coverage of hearing and vision services, including hearing aids, glasses, and contact lenses, beginning in 2025. It also appropriates any amounts received as a result of the bill's changes to the SALT cap to Medicare's Supplementary Medical Insurance Trust Fund and provides for specific fund transfers for FY2024 and FY2025 to support Medicare hearing and vision coverage.

CEO Accountability and Responsibility Act

United States · United States Congress · 1 March 2023

CEO Accountability and Responsibility Act This bill increases the corporate income tax rate for publicly traded corporations that pay their chief executive officers or highest paid employees more than 100 times the median compensation of all their U.S. employees or that increase the number of contracted or foreign employees. The bill also requires an executive agency, in the evaluation of bids or proposals for federal contracts, to give preference to a bidder that has a compensation ratio of highly paid to all employees of less than 50 to 1 in the previous calendar year.

To treat Hurricane Ian as a qualified disaster for purposes of determining the tax treatment of certain disaster-related personal casualty losses.

United States · United States Congress · 1 March 2023

This bill treats Hurricane Ian (occurring on and after September 22, 2022) as a qualified disaster area for purposes of the disaster-related personal casualty loss tax deduction.

Taxpayer Exposure Mitigation Act

United States · United States Congress · 1 March 2023

Taxpayer Exposure Mitigation Act This bill requires the Federal Emergency Management Agency (FEMA) to annually transfer a portion of the risk from the National Flood Insurance Program (NFIP) to private reinsurance or capital markets. The amount of transferred risk must be based on a probable maximum loss target for NFIP established by FEMA each fiscal year.

Dollar-for-Dollar Deficit Reduction Act

United States · United States Congress · 1 March 2023

Dollar-for-Dollar Deficit Reduction Act The bill establishes a framework to require legislation that increases or suspends the public debt limit to include spending reductions that are equal to or greater than the projected increase in debt that will occur under the legislation. The bill allows the spending reductions to be phased in over the period that includes the current and next 10 fiscal years. Specifically, the bill requires the Department of the Treasury to notify the House Ways and Means Committee and the Senate Finance Committee when it determines that the federal government will reach the debt limit within 60 days without the implementation of extraordinary measures. The notification must also indicate when extraordinary measures may be necessary to prolong the funding of the federal government in the absence of a debt limit increase. In addition, the bill requires any formal presidential request to increase the debt limit to include (1) the amount of the proposed increase, and (2) proposed legislation to reduce spending by an amount that is equal to or greater than the amount of the requested increase. Finally, the bill establishes budget points of order that may be raised in the House of Representatives and the Senate against legislation that increases or suspends the debt limit and does not contain net spending reductions that are equal to or greater than the increase in the debt that will occur under the legislation.

Recognizing the national debt as a threat to national security.

United States · United States Congress · 1 March 2023

This resolution recognizes that the national debt is a threat to national security and that deficits are unsustainable, irresponsible, and dangerous. It also commits to (1) restoring regular order to the appropriations process, and (2) addressing the fiscal crisis faced by the United States.

Proposing a balanced budget amendment to the Constitution of the United States.

United States · United States Congress · 1 March 2023

This joint resolution proposes a constitutional amendment that prohibits total outlays for any fiscal year from exceeding total receipts for that fiscal year. The amendment also prohibits (1) increases to the federal debt limit, and (2) a bill that increases revenue from becoming law unless the bill has been approved by two-thirds of each chamber of Congress with a rollcall vote.

IRS Whistleblower Program Improvement Act of 2023

United States · United States Congress · 1 March 2023

IRS Whistleblower Program Improvement Act of 2023 This bill modifies provisions of the Internal Revenue Code relating to whistleblower protections. Specifically, the bill revises the standard for review of whistleblower awards in the Tax Court to require a de novo review standard (currently, the standard is abuse of discretion); exempts whistleblower awards from reductions due to budget sequestration; allows whistleblowers anonymity in proceedings before the Tax Court; modifies the Internal Revenue Service (IRS) whistleblower report to require inclusion of a list and description of the top 10 tax avoidance schemes disclosed by whistleblowers; requires the IRS to pay interest on whistleblower awards if not paid within one year of receipt of proceeds collected from whistleblower disclosures; and allows payment of the attorney fees of whistleblowers regardless of whether the whistleblower award was paid through the mandatory or the discretionary whistleblower award program.

LEO Fair Retirement Act of 2023

United States · United States Congress · 1 March 2023

LEO Fair Retirement Act of 2023 This bill makes a series of changes to certain retirement and premium pay calculations for federal law enforcement officers (LEOs). Specifically, the bill provides that for purposes of computing the annuity of an LEO under the Civil Service Retirement System and the Federal Employees Retirement System, any premium pay earned by such LEO in excess of limitations imposed on such pay shall be included in the LEO's average pay, contingent on the payment of a specified lump sum by the LEO to the Office of Personnel Management. The bill allows for a nonrefundable tax credit with respect to such lump-sum payments. The bill also makes postal inspectors, federal air marshals, and other specified personnel eligible for availability pay (i.e., premium pay paid to LEOs who are criminal investigators).

Law Enforcement Officers Equity Act

United States · United States Congress · 1 March 2023

Law Enforcement Officers Equity Act This bill expands the definition of law enforcement officer under provisions of the Federal Employees Retirement System (FERS) and the Civil Service Retirement System (CSRS). Specifically, the bill expands the definition to include (1) federal employees whose duties encompass the investigation or apprehension of suspected or convicted criminals and who are authorized to carry a firearm; (2) Internal Revenue Service employees whose duties are primarily the collection of delinquent taxes and the securing of delinquent returns; (3) U.S. Postal Inspection Service employees; (4) Department of Veterans Affairs police officers; and (5) certain U.S. Customs and Border Protection employees who are seized-property specialists with duties relating to custody, management, and disposition of seized and forfeited property. The bill deems service performed by an incumbent law enforcement officer on or after the enactment date of this bill to be service performed as a law enforcement officer for retirement purposes. The past service of such incumbents shall be treated as service performed by a law enforcement officer for retirement purposes only if a written election is submitted to the Office of Personnel Management within five years after the enactment of this bill or before separation from government service, whichever is earlier. An incumbent who makes an election before the enactment of this bill may pay a deposit into the Civil Service Retirement and Disability Fund to cover prior service. A law enforcement officer shall not be subject to mandatory separation during the three-year period beginning on the enactment of this bill.

More Homes on the Market Act

United States · United States Congress · 1 March 2023

More Homes on the Market Act This bill increases the tax exclusion of gain from the sale of a principal residence and requires an annual inflation adjustment to such increased amount.

Federal Employees Civil Relief Act

United States · United States Congress · 1 March 2023

Federal Employees Civil Relief Act This bill establishes a framework to temporarily suspend certain judicial and administrative proceedings against a federal employee or contractor during a shutdown. Under the bill, a shutdown is a period in which (1) there is more than a 24-hour lapse in appropriations for any federal agency or department because a regular appropriations bill or a continuing resolution has not been enacted, or (2) the debt of the federal government is greater than the statutory limit. A federal worker (i.e., an employee of a government agency or contractor) who is furloughed or required to work without pay during a shutdown may apply to a court for a temporary stay, postponement, or suspension with respect to any payment of rent, mortgage, tax, fine, penalty, insurance premium, student loan repayment, or other civil obligation or liability that the worker owes or would owe during the duration of the shutdown. The bill includes related provisions that restrict evictions, foreclosures, the enforcement of liens, and the termination of insurance policies during a shutdown. It also provides for the deferral of federal income taxes and student loan payments during a shutdown. The Department of Justice may commence a civil action against any person who engages in (1) a pattern or practice of violating the requirements of this bill, or (2) a violation that raises an issue of significant public importance. A person aggrieved by a violation of this bill's requirements may also bring a private right of action.

Military Spouse Hiring Act

United States · United States Congress · 1 March 2023

Military Spouse Hiring Act This bill expands the Work Opportunity Tax Credit (WOTC) to include the hiring of a qualified military spouse. (The WOTC permits employers who hire individuals who are members of a targeted group such as qualified veterans, ex-felons, or long-term unemployment recipients to claim a tax credit equal to a portion of the wages paid to those individuals.) A qualified military spouse is any individual who is certified by the designated local agency as being (as of the hiring date) a spouse of a member of the Armed Forces.

To exclude certain amounts relating to compensating victims of the East Palestine train derailment, and for other purposes.

United States · United States Congress · 1 March 2023

This bill excludes from gross income, for income tax purposes, compensation received by individuals and businesses for losses resulting from the East Palestine, Ohio train derailment on February 3, 2023. This includes lost business income paid by a federal, state, or local government agency, Norfolk Southern Railway, or any subsidiary, insurer, or agent of the railway, or any related person.

United States Foundation for International Conservation Act of 2024

United States · United States Congress · 1 March 2023

United States Foundation for International Conservation Act of 2023 This bill requires the Department of State to establish the U.S. Foundation for International Conservation as a tax-exempt organization to promote international conservation efforts, including by providing grants for eligible projects. The foundation shall fund projects that support effective area-based conservation measures and the long-term management of protected or conserved areas and their contiguous buffer zones. Such areas include terrestrial, coastal, and marine-protected or conserved parks, conservancies, and reserves. Projects must be cost-matched from sources other than the U.S. government. Project grants shall focus on countries that (1) have low-income, lower middle-income, or upper-middle-income economies; (2) have a high degree of biological diversity or important species or ecosystems; and (3) have demonstrated a commitment to conservation through their actions. The foundation may not provide support for any government, or any entity owned or controlled by a government, that has repeatedly provided support for acts of international terrorism or has engaged in a consistent pattern of gross human rights violations. Additionally, the foundation may not engage in any dealings prohibited under U.S. sanctions.

United States Foundation for International Conservation Act of 2023

United States · United States Congress · 1 March 2023

United States Foundation for International Conservation Act of 2023 This bill requires the Department of State to establish the U.S. Foundation for International Conservation as a tax-exempt organization to promote international conservation efforts, including by providing grants for eligible projects. The foundation shall fund projects that support effective area-based conservation measures and the long-term management of protected or conserved areas and their contiguous buffer zones. Such areas include terrestrial, coastal, and marine-protected or conserved parks, conservancies, and reserves. Projects must be cost-matched from sources other than the U.S. government. Project grants shall focus on countries that (1) have low-income, lower middle-income, or upper-middle-income economies; (2) have a high degree of biological diversity or important species or ecosystems; and (3) have demonstrated a commitment to conservation through their actions. The foundation may not provide support for any government, or any entity owned or controlled by a government, that has repeatedly provided support for acts of international terrorism or has engaged in a consistent pattern of gross human rights violations. Additionally, the foundation may not engage in any dealings prohibited under U.S. sanctions.

Military Spouse Hiring Act

United States · United States Congress · 1 March 2023

Military Spouse Hiring Act This bill expands the Work Opportunity Tax Credit (WOTC) to include the hiring of a qualified military spouse. (The WOTC permits employers who hire individuals who are members of a targeted group such as qualified veterans, ex-felons, or long-term unemployment recipients to claim a tax credit equal to a portion of the wages paid to those individuals.) A qualified military spouse is any individual who is certified by the designated local agency as being (as of the hiring date) a spouse of a member of the Armed Forces.

Energy Efficiency for Affordable Housing Act

United States · United States Congress · 1 March 2023

Energy Efficiency for Affordable Housing Act This bill increases the amount of the low-income housing tax credit for rehabilitation expenditures for buildings, including those in high cost areas, that achieve enhanced energy performance.

A resolution recognizing the national debt as a threat to national security.

United States · United States Congress · 1 March 2023

This resolution recognizes that the national debt is a threat to national security and that deficits are unsustainable, irresponsible, and dangerous. It also commits to (1) restoring regular order to the appropriations process, and (2) preventing the looming the fiscal crisis faced by the United States.

American Space Commerce Act of 2023

United States · United States Congress · 1 March 2023

American Space Commerce Act of 2023 This bill allows a special allowance for bonus depreciation for qualified domestic space launch property and extends the termination of such allowance until the end of 2032. The bill defines qualified domestic space launch property as property placed in service before January 1, 2033, that is (1) a space transportation vehicle or payload that is launched from the United States, or (2) other property or equipment placed in service to facilitate a space launch from the United States.

Social Security Fairness Act

United States · United States Congress · 1 March 2023

Social Security Fairness Act This bill repeals provisions that reduce Social Security benefits for individuals who receive other benefits, such as a pension from a state or local government. The bill eliminates the government pension offset , which in various instances reduces Social Security benefits for spouses, widows, and widowers who also receive government pensions of their own. The bill also eliminates the windfall elimination provision , which in some instances reduces Social Security benefits for individuals who also receive a pension or disability benefit from an employer that did not withhold Social Security taxes. These changes are effective for benefits payable after December 2023.

Credit Union Board Modernization Act

United States · United States Congress · 1 March 2023

Credit Union Board Modernization Act This bill revises the required frequency of meetings held by a credit union's board of directors. Specifically, new credit unions and credit unions with a low soundness rating must meet monthly. All other credit unions must hold at least six meetings annually, with at least one meeting held during each fiscal quarter. Currently, all credit union boards must meet at least once a month.

[H.A.S.C. No. 118-8] HEARING ON NATIONAL DEFENSE AUTHORIZATION ACT FOR FISCAL YEAR 2024 AND OVERSIGHT OF PREVIOUSLY AUTHORIZED PROGRAMS

United States · United States House of Representatives · 28 February 2023

Commonsense Reporting Act of 2023

United States · United States Congress · 28 February 2023

Commonsense Reporting Act of 2023 This bill addresses the eligibility verification process for the premium assistance tax credit and cost-sharing subsidy under the Patient Protection and Affordable Care Act (PPACA). It requires the Department of the Treasury to develop and implement a reporting system that allows employers to voluntarily report information about their health plans for the current plan year prior to the beginning of open enrollment. The bill also allows electronic transmission of employee and enrollee statements and permits Treasury to accept full names and dates of birth in lieu of dependents' and spouses' Social Security account numbers. The bill also allows certain large employers who do not offer their employees minimum health care coverage 90 days to appeal an assessment for not providing such coverage. The Government Accountability Office must evaluate (1) for the period beginning on January 1, 2015, and ending on December 31, 2022, the notification of employers by PPACA exchanges of the eligibility of employees for advance payments of the premium assistance tax credit or cost-sharing subsidies; and (2) for calendar year 2024, the functionality of the prospective reporting system established by this bill, including the accuracy of information collected.

SALT Relief Act

United States · United States Congress · 28 February 2023

SALT Relief Act This bill increases from $10,000 to $50,000 the amount that an individual taxpayer may deduct as state and local taxes.

Debt Solution and Accountability Act

United States · United States Congress · 28 February 2023

Debt Solution and Accountability Act This bill requires the Department of the Treasury to submit to Congress a debt report and a statement of intent within 60 days of an increase in the public debt limit. The debt report must include the historic, current, and projected levels of debt; the drivers and composition of future debt; and how the United States will meet debt obligations. The statement of intent must include a detailed explanation of proposals of the President to reduce the debt; the impact the increased debt limit will have on future government spending, debt service, and the position of the U.S. dollar as the international reserve currency; and projections of the fiscal health and sustainability of major entitlement programs (including Social Security, Medicare, and Medicaid). Treasury must make the information required by this bill available to the public on its website. Upon request, Treasury must submit to Congress specified financial and economic data relevant to determining the amount of the public debt.

HITS Act

United States · United States Congress · 28 February 2023

Help Independent Tracks Succeed Act or the HITS Act This bill permits taxpayers to treat as currently deductible expenses the cost of qualified sound recording productions not exceeding $150,000 in a taxable year. The bill defines qualified sound recording production as certain sound recordings produced and recorded in the United States.

CCU Parity Act of 2023

United States · United States Congress · 28 February 2023

CCU Parity Act of 2023 This bill increases the tax credit for carbon capture and use to match incentives for carbon capture and sequestration for both direct air capture and the power and industrial sectors.

Home Advantage for American Families Act of 2023

United States · United States Congress · 28 February 2023

Home Advantage for American Families Act of 2023 This bill requires any foreign person involved in a transaction related to the sale of residential property located in any of the 15 largest metropolitan statistical areas by population to report to the Department of the Treasury information for identifying the person purchasing the property, the amount and source of the funds received by the seller, the date and nature of the transaction, and other information deemed necessary. The bill also increases (1) from 15% to 30% the rate of withholding on sales proceeds of certain residential real property, and (2) the low-income housing tax credit state ceiling.

Charitable Act

United States · United States Congress · 28 February 2023

Charitable Act This bill allows individual taxpayers who do not otherwise itemize their tax deductions a deduction in taxable years beginning in 2023 or 2024 for charitable contributions. The deduction is limited to one-third of the standard deduction allowed to such taxpayers.

CCU Parity Act of 2023

United States · United States Congress · 28 February 2023

CCU Parity Act of 2023 This bill increases the tax credit for carbon capture and use to match incentives for carbon capture and sequestration for both direct air capture and the power and industrial sectors.

Know Before You Owe Federal Student Loan Act of 2023

United States · United States Congress · 27 February 2023

Know Before You Owe Federal Student Loan Act of 2023 This bill expands lender disclosure requirements and revises loan counseling requirements. First, the bill requires a lender to provide a quarterly statement to a Federal Family Education Loan or Direct Loan borrower during a period when loan payments are not required. The statement must include specified information on the loan and interest amounts and explain the option to pay accrued interest while in deferment or forbearance. In addition, the bill requires an institution of higher education (IHE) that participates in federal student-aid programs to provide pre-loan counseling to a student borrower of a federal student loan upon or prior to the first disbursement of each new loan. Currently, an IHE must provide one-time entrance counseling to a student who is a first-time federal student loan borrower. The bill also revises and expands required elements of pre-loan counseling to include an estimate of the borrower's monthly payment amount compared to the borrower's estimated monthly income after taxes and other expenses, a statement to borrow the minimum necessary amount, a warning that a high debt-to-income ratio makes repayment more difficult, options to reduce borrowing, and an explanation of the importance of on-time graduation. Prior to certifying a Federal Direct Loan disbursement to a student, an IHE must ensure that the student manually enters the exact dollar amount of the loan.

DIRECT Act

United States · United States Congress · 27 February 2023

Diverting IRS Resources to the Exigent Crisis Today Act or the DIRECT Act This bill rescinds amounts appropriated to the Internal Revenue Service for enforcement activities under the Inflation Reduction Act of 2022 and reallocates such amounts to the U.S. Customs and Border Protection for the salaries and expenses of new agents and officers hired for the security of the southern border.

Healthcare Worker Retention Act

United States · United States Congress · 27 February 2023

Healthcare Worker Retention Act This bill establishes through 2024 a new refundable health care worker tax credit, equal to $1,000 for individual taxpayers (1) who work in a healthcare setting as an employee or contractor for at least an average of 20 hours per week, and 3 months during each half of a taxable year; and (2) whose gross income does not exceed $100,000 ($200,000 for joint returns or for a surviving spouse). The bill defines healthcare setting as an organization that provides healthcare services in specified settings, including a hospital, a nursing home, a community-based healthcare center, a school or college campus, a primary care facility, an assisted living facility, a hospice or home care, emergency medical services, or any other licensed facility that extends healthcare services to patients, including the elderly and disabled. The bill directs the Internal Revenue Service to establish a program to make semiannual advance payments of healthcare worker tax credit amounts.

Know Before You Owe Federal Student Loan Act of 2023

United States · United States Congress · 27 February 2023

Know Before You Owe Federal Student Loan Act of 2023 This bill expands lender disclosure requirements and revises loan counseling requirements. First, the bill requires a lender to provide a quarterly statement to a Federal Family Education Loan or Direct Loan borrower during a period when loan payments are not required. The statement must include specified information on the loan and interest amounts and explain the option to pay accrued interest while in deferment or forbearance. In addition, the bill requires an institution of higher education (IHE) that participates in federal student-aid programs to provide pre-loan counseling to a student borrower of a federal student loan upon or prior to the first disbursement of each new loan. Currently, an IHE must provide one-time entrance counseling to a student who is a first-time federal student loan borrower. The bill also revises and expands required elements of pre-loan counseling to include an estimate of the borrower's monthly payment amount compared to the borrower's estimated monthly income after taxes and other expenses, a statement to borrow the minimum necessary amount, a warning that a high debt-to-income ratio makes repayment more difficult, options to reduce borrowing, and an explanation of the importance of on-time graduation. Prior to certifying a Federal Direct Loan disbursement to a student, an IHE must ensure that the student manually enters the exact dollar amount of the loan.

Broadband SALE Act

United States · United States Congress · 24 February 2023

Broadband Stock Acquisition in Local Exchanges Act or the Broadband SALE Act This bill allows an exclusion from gross income, for income tax purposes, of gain from the sale or exchange of the entire interest in a wholly-owned rural incumbent local exchange carrier. A rural incumbent local exchange carrier is a carrier that serves (1) an area where it was required to provide communications services by a specified date to any customer regardless of cost, and (2) an area other than an urbanized area with not fewer than 50,000 people and a core where there are not fewer than 1,000 people per square mile. The bill requires recapture of tax for income from the sale or exchange of stock in a carrier not held for at least one year. The bill allows an investment tax credit for 30% of expenditures to purchase, maintain, or improve property to provide voice telephone service or broadband internet access in rural empowerment zones.

Access to Future Cures Act

United States · United States Congress · 24 February 2023

Access to Future Cures Act This bill expands the tax deduction for medical expenses to include expenses for storage of blood or biomaterial derived from blood.

Easy Enrollment in Health Care Act

United States · United States Congress · 21 February 2023

Easy Enrollment in Health Care Act This bill revises the procedures related to enrollment in health insurance affordability programs, including Medicaid, the Children's Health Insurance Program (CHIP), and state-operated Basic Health Programs. The bill provides funding to support the changes. Specifically, the bill permits individuals who do not have minimum essential coverage to, in conjunction with filing their tax return, determine whether any members of their household are eligible for an insurance affordability program and enroll in minimum essential coverage. The bill makes individuals eligible for Medicaid or CHIP based on a prior finding of eligibility for the Temporary Assistance for Needy Families program or the Supplemental Nutrition Assistance Program. Additionally, the bill provides access to certain information to support enrollment in insurance affordability programs.

Natural Gas Tax Repeal Act

United States · United States Congress · 21 February 2023

Natural Gas Tax Repeal Act This bill eliminates a program administered by the Environmental Protection Agency (EPA) that provides incentives for petroleum and natural gas systems to reduce their emissions of methane and other greenhouse gases. It also repeals a charge on methane emissions from specific types of facilities that are required to report their greenhouse gas emissions to the EPA's Greenhouse Gas Emissions Reporting Program.

Prohibit Insider Trading Act

United States · United States Congress · 21 February 2023

Prohibiting Insider Trading Act This bill prohibits Members of Congress (or their spouses) from holding or trading certain investments (e.g., individual stocks and related financial instruments other than diversified investment funds, investments in the federal retirement savings plan, or U.S. Treasury securities). Generally, the prohibition applies seven days after the first day of a Member's initial term, though for current Members, it applies on the first day of the second session of the 118th Congress. Additionally, the prohibition does not apply to assets held in a qualified blind trust. Any profit stemming from a prohibited holding or transaction must be disgorged to the Treasury and may subject the Member to a civil fine. Additionally, a loss stemming from a prohibited holding or transaction may not be used as an income tax deduction. Each Member must submit an annual certification of compliance to the supervising ethics office. The office must publish each certification on a public website and periodically audit Members' compliance with the bill's provisions.

Hong Kong Economic and Trade Office (HKETO) Certification Act

United States · United States Congress · 17 February 2023

Hong Kong Economic and Trade Office (HKETO) Certification Act This bill requires the President to periodically determine whether to allow the Hong Kong Economic and Trade Offices (HKETOs) to continue to operate in the United States. (The HKETOs are the official representative offices for Hong Kong, a semi-autonomous city that was established as a British colony in 1841. The United Kingdom transferred sovereignty over Hong Kong to China in 1997). Under this bill, the President must periodically (at least once a year) certify to Congress a determination as to whether the HKETOs should be covered by the International Organizations Immunities Act. (The act provides immunities and privileges to certain international organizations, such as immunity from certain lawsuits and exemption from property taxes.) If the President certifies that the HKETOs no longer merit receiving such privileges and immunities, the HKETOs must terminate operations in the United States no later than 180 days after the certification is delivered to Congress. If the President certifies that the HKETOs continue to merit such privileges and immunities, the HKETOs may continue operations for another year, unless Congress enacts a joint resolution disapproving of the certification. The President may also revoke the application of such privileges and immunities to the HKETOs. A federal government entity may enter into an agreement or partnership with an HKETO only if the HKETOs are still authorized to operate in the United States under this bill.

COVID–19 Federal Employee Reinstatement Act

United States · United States Congress · 17 February 2023

COVID-19 Federal Employee Reinstatement Act This bill requires federal agencies to reinstate or compensate former employees who separated from the agency due to COVID-19 vaccination requirements during a certain period. Specifically, agencies must reinstate or compensate employees who voluntarily or involuntarily separated from the agency between September 9, 2021, and January 24, 2022, due to the COVID-19 vaccination requirements of Executive Order 14043. (The executive order required all federal employees to be vaccinated against COVID-19. A federal court blocked implementation of the order on January 21, 2022. An appellate court reinstated the order on April 7, 2022.) Employees may choose to be reinstated to their former position (or a comparable position) or to receive a payment that is commensurate with any lost pay during this time period. Employees who subsequently obtained a new federal position are entitled to payment that is commensurate with any difference in pay, if the new position pays less than the previous position. The bill also provides for the treatment of such payments or service with respect to taxes and retirement annuities, including allowing the months in which an employee was separated from service during this time period to count as qualifying service for purposes of retirement.

Hong Kong Economic and Trade Office (HKETO) Certification Act

United States · United States Congress · 16 February 2023

Hong Kong Economic and Trade Office (HKETO) Certification Act This bill requires the President to periodically determine whether to allow the Hong Kong Economic and Trade Offices (HKETOs) to continue to operate in the United States. (The HKETOs are the official representative offices for Hong Kong, a semi-autonomous city that was established as a British colony in 1841. The United Kingdom transferred sovereignty over Hong Kong to China in 1997). Under this bill, the President must periodically (at least once a year) certify to Congress a determination as to whether the HKETOs should be covered by the International Organizations Immunities Act. (The act provides immunities and privileges to certain international organizations, such as immunity from certain lawsuits and exemption from property taxes.) If the President certifies that the HKETOs no longer merit receiving such privileges and immunities, the HKETOs must terminate operations in the United States no later than 180 days after the certification is delivered to Congress. If the President certifies that the HKETOs continue to merit such privileges and immunities, the HKETOs may continue operations for another year, unless Congress enacts a joint resolution disapproving of the certification. The President may also revoke the application of such privileges and immunities to the HKETOs. A federal government entity may enter into an agreement or partnership with an HKETO only if the HKETOs are still authorized to operate in the United States under this bill.

Eliminating Leftover Expenses for Campaigns from Taxpayers (ELECT) Act of 2023

United States · United States Congress · 16 February 2023

Eliminating Leftover Expenses for Campaigns from Taxpayers (ELECT) Act of 2023 This bill terminates (1) the taxpayer election to designate $3 of income tax liability for financing of presidential election campaigns, (2) the Presidential Election Campaign Fund, and (3) the Presidential Primary Matching Payment Account. The Department of the Treasury must transfer funds remaining in the Presidential Election Campaign Fund to the treasury for the sole purpose of reducing the deficit.

A joint resolution proposing an amendment to the Constitution of the United States requiring that the Federal budget be balanced.

United States · United States Congress · 16 February 2023

This joint resolution proposes a constitutional amendment prohibiting total outlays for a fiscal year from exceeding total receipts for that fiscal year or 18% of the U.S. gross domestic product unless Congress authorizes the excess by a two-thirds vote of each chamber. The prohibition excludes outlays for repayment of debt principal and receipts derived from borrowing. The amendment requires a two-thirds vote of each chamber of Congress to levy a new tax, increase the rate of any tax, or increase the debt limit. The amendment provides any Member of Congress with standing and a cause of action to seek judicial enforcement of this amendment if authorized by a petition signed by one-third of the Members of either chamber of Congress. Courts are prohibited from ordering any increase in revenue to enforce this amendment.

No Tax Subsidies for E-Cigarette and Tobacco Ads Act

United States · United States Congress · 16 February 2023

No Tax Subsidies for E-Cigarette and Tobacco Ads Act This bill denies a tax deduction for expenses relating to direct-to-consumer advertising of tobacco products, including electronic nicotine delivery systems.

CVV Act

United States · United States Congress · 16 February 2023

Codification of Verified Values Act or the CVV Act This bill requires a contributor to political organizations who uses a credit card to make online contributions to such organizations to disclose the credit verification value of such credit card at the time a contribution is made. A credit verification value is a series of numbers on a credit card (usually on the back of the card) that provides additional security for a transaction by credit card.

Inflation-Adjusted Education Investment Act

United States · United States Congress · 15 February 2023

Inflation-Adjusted Education Investment Act This bill modifies provisions relating to qualified tuition programs (i.e., tax-exempt 529 plans). Specifically, it increases from $10,000 to $12,000 the limitation under such programs on payments for educational expenses, including expenses for tuition in connection with enrollment or attendance at an elementary or secondary public, private, or religious school. The bill provides for an annual inflation adjustment to the increased limitation amount for taxable years beginning after 2023.

Supply Chain Disruptions Relief Act

United States · United States Congress · 15 February 2023

Supply Chain Disruptions Relief Act This bill modifies the treatment of liquidations of new motor vehicle inventory as qualified LIFO (last in first out accounting method) inventory. It allows new motor vehicle dealers to elect to wait until the end of 2025 to replace their inventory for purposes of determining income attributable to the sale of such inventory during 2020 and 2021.

A resolution opposing a national sales tax on working families and supporting a tax cut to benefit the middle class.

United States · United States Congress · 15 February 2023

This resolution opposes the enactment of a national sales tax, supports the passage of a responsible tax cut, and opposes paying for any tax cuts with cuts to Social Security, Medicare, or Medicaid, or cuts to pay and benefits for servicemenbers, veterans, or law enforcement.